10:26am
Why did gold collapse 2 days ago? Adam has the answer:
http://www.ino.com/insider/?affid=CD4204
We might have had a reversal come into play yesterday with both tech and financials doing bad. The 115 level is KEY in the next few days. I will be posting my trades later today!
About FocalEquity
Sun Tze is one of the founders of FocalEquity.com. After going through multiple transitions, Tze, Charlie Cheng and their new team are bringing new changes and features to the new FocalEquity.com in 2011. Tze is specialized in financial modeling and has a masters degree in Finance.
Sam what are big boys doing? 62% retrace of yesterday or back to new highs?
my trades has been , is and will buy longs on major drops and then book profit on retracment. I will keep continue doing this until otherwise is proven to me. I do not see a major drop to continue yet. I have a singnal and that is not green yet. Once that sell signal turn to green I will become bear. I really like big boys to push higher to make a doble top on DOW, but not sure if they can, if they can that is golden opportunity to go short.
SWBB
Good morning. I think the financials are going to be a hindrance on the next big move up.
I TOLD YOU SO.
Huge profits booked this morning on open.
Very strong trade by me and big boy.
Will make more powerful trades tonight when big boys reveal the plan to me as I look at the charts.
Huge drop on the way, time for shorting.
Don’t say I didn’t share my plan.
SWBB
Sham? Oh you must be sam’s twin brother lol
lol
short 10k ETFC 14.55, earnings after the bell, volume has stunk and just did a reverse split, thinking 50% hair cut is totally possible but would settle for $1 down tomorrow, short at your own risk
ETFC isnt a volume story, its a loan loss provisioning story. Good luck!
It’s stiill TOO SOON to short this market.. tomorrow we’ll get jobless claims though, that should set for a grimmer mood on any weakness because the momentum might have shifted back down yesterday.
can we really think about shorting this market until after the fed announces their intentions re: qe2?
I wouldn’t put it passed the big money to try and bring the market close to 1150 in advance of the fed mtg to let them know, they will drop it like a rock if they don’t continue fueling the fire…lol…too conspiracy theory-ish..lol
where do you stand on this so called recover, Idan..are you buying it?
Bought 10,000 BAC for 11.26. This is another historic event folks. I feel BAC is a good bank and I think the people that are going after BAC do not have a leg to stand on or anything that’s going to be proven in any court. This is a golden opportunity.
Back in 2009 when AIG was .77 cents I bought 50,000. Could kick myself for not buying more. I sold them for $34.60 and of course paid the govt thieves their part and kept the rest. That was another historic moment that we will never see again AIG @ .77 cents.
I have to agree, i know alot of people think i am crazy but this mortgage thing is way overblown IMO..BAC at these levels is a deal..
your .77 and 34.60 aren’t apples to apples…had a 20/1 reverse stock split…you broke even, lol
Whatever LMAO ….I grossed 1.7 M………Hey are you watching BAC or just flapping your jaw?
Jeff is correct bud, on a split adjusted basis the lowest it got i believe was 6.60ish. that 1.7M you claimed to gross with 50K is with $33.83 profit, but thats not the case! i’m not disputing you made a killing but your math is whacked!
your BAC trade is looking very nice right now though
Here is a “BONUS” just because I feel generous today!
This happened around middle of February of 09 when AIG was going to be delisted from the New York Stock Exchange after its stock fell below $1, and before AIG has received some $150 billion from the US Treasury.
wow. i’m not even trying to argue with you and you’re being a complete douche bag. maybe instead of ripping everyone you could try reading peoples posts. or maybe read up on what a reverse split means…
how bout some of this math:
50,000 shrs X 0.77 = $38,500
reverse split 1:20
2500 shrs X $15.4 = $38,500
sold at split adjusted price $34.60 x 2500 = $86,500
like i said, the lowest AIG ever got on a split adjusted basis in 2009 was 6.60! (not 77cents)
great profit of $48K, but it’s not $1.7M…and that my friend, is called getting schooled… you arrogant ass!
how you could not see a 1.65M discrepancy in your portfolios value is beyond me though, that does take some special sorta math!
http://www.pressreleasepoint.com/039asia-pacific-group039-%E2%80%93-aig-stock-falls-below-1
wow! …just wow!
i never claimed it didn’t go below $1. in fact i believe it got down to 33cents (6.60/20)
that changes nothing about what i said. IT REVERSE SPLIT!!!! do you even comprehend what that means? you’re tossing all these big $$ figures around and yet you’re clueless your stock reverse split 1 for 20!
..you need to read up on reverse splits, it might help you!
…..if you made 1.7M you bought a lot more than 50K shares at 77cents, thats all i’m saying.
Jeff was right you’re not comparing apples to apples…insult me all your want, facts are facts and you’re using insults to hide either your confusion or stupidity, which is just sad. we’re all on the same team here (so to speak) just trying to make a buck. no need for this argument to even take place!
not cool, not cool at all. wasn’t there just a discussion on this board about inappropriate language?
and you never did say how jeff and i were wrong? are you disagreeing with us that the stock split 1 for 20?
ya Citi never split 1 for 20 so that’s a very plausible trade. and considering its about 4 bucks now thats 100% on that trade, about what you would have made on AIG taking the split into account. you’re not helping your case any, just showing how immature you are. you’ve lost all credibility to me on this board. you’re spewing hot air.
wow – you’re so awesome, you must make so much money why don’t you brag some more about how much $$ you make and how amazing you are?
i wish i could be just like you… except that is, for the lying, the homophobia, the fascination with cum, the poor math skills, the self-indulgent chest thumping, the rudeness, the intense anger issues, and having no idea what a stock split is…but besides that, you sure do sound swell.
hahaha, this was never a discussion it was your raging because somebody called bullshit on you!
Have a nice day!
brave man.
i also want to pull the trigger on a few thousand and forget about them.
lots of good comments on it from the gang at fast money last night.
not sure though, need it to find a bit of a base first. i don’t like catching a falling knife.
i guess for a day trade you could buy it here at 11.28 and put a stop just under the lows of the day.
do you think we’ll see a woosh in this one, or has that already happened?
idan was pointing that out the other day.
Meanwhile the train keeps a chuggin only 50 points from recovering from yesterday.
thanks Idan for the LNN, looking good so far
might be time to start looking to the short side.. i’d wait a few more %.
Looks like we are totally wiping out that reversal,looks like 1190 would be a good target
I am out made little over $200 on 200 shares
Dollar in a free fall down,gold up but should be up$25 ??
Wow SRS at year low! What up with that?
28 pts away and closing in on complete recovery from yesterday.
Could see a late day short squeeze too !!!!
lets face it..we are going higher into the fed meeting in Nov…will be interesting to see what happens with the g20 meeting this weekend…if history serve..they usually get there sh$t together and make some huge deal that rallies the markets on monday..the stakes are too high for them not to work out the currency issue or at least compromise and table the discussion for a later date…and when I say compromise, I mean the US as we definitely do not have the upper hand
Yuppers as that what it is doing.
I call bullshit on this rally. Can you say POMO!!! We may not head back down tomorrow,
but sometime soon this thing will implode. Here’s hoping we’re all on the right side of
the trade when that happens!
hope you all followed me on my call yesterday…i posted that i was buying the drop big time.
classic bear trap, yet again.
and the weak longs were shaken out.
i see us now moving to 1220.
We hit the 1180 on the S+P anyone think 1185 will get hit today?..I am thinking of starting some shorts if we make it there anybody have any thoughts pro or con ???
I am looking for a double top by next week. I am not saying it won’t drop again but the momentum is up! One step back two steps forward that spells a very good chance for the double top. Buy the dips and be long and strong. Once it hits that 1215 target take her short. JMHO
Midday baord market update http://bidhitter.com/midday-updates/midday-broad-market-update-for-10202010/
This week is a critical week in future direction and tomorrow I think is critical to determine what this week is going to be. Here is why:
(Bull) Scenario 1:
1.- This week we are forming the second candle that the market puts above the 200SMA on the weekly chart. So for bulls it is critical to finish the week above 11000s and the more above the better (200 points or at double top) will be ideal.
2.- That will set the stage for a consolidation week toward the end of October perhaps testing the 200 SMA on the weekly even with a fake move again below the 11000s that will be quickly bought. This is your green light to higher highs perhaps 11800s or more
3.- At this point the stage is set for the FED announcement of more stimulus and the rally will continue till year end with an upside of 8-10%.
4.- Why is tomorrow critical?. Well from a bull camp you could think of yesterday move as a buy the dip scenario and a shake up of weak bulls (There could be another next week under this scenario). The confirmation is then tomorrow with a follow up of today push to confirm the first candle above the weekly.
Scenario 2 (Bear):
1.- Market is trying to break the 200SMA (Weekly) and this week is critical for the bears and so far resistance of 11150 and 11250 have save you from further losses.
2.- Observe closely this week price action and next. Since we need to maintain the second candle below the 200SMA for a failure of the rally we need to close the week below 11000s.
3.- If prices hold the 200SMA with no two candles above it until FED announcement then when the FED announces you will see a spike up but you need to sell it or short it because it will be a fake upside.
4.- Why is tomorrow critical?. I think that if the move down yesterday was the first signal and today is Big Boy (sam quote) action to get rid off the weak bears. The direction will be given tomorrow if we have a down day.
5.- If we go down we could test the bottom of the channel around 10600s and we will see from there what happens
If you see in both scenarios the market will get rid of the weak and fearful to then show its real face for the remaining of the year. In both scenarios volatility will be high and the price action will be maintained close to the 11000s. So I suggest day trading for the moment and closing positions at end of day. I am 100% cash and I will start reading the market in the following weeks to make my move after the FED announcement. If you ask me my opinion about direction I will say that Scenario 1 (Bull) is what I think will happen.
lol, classic.
bac hits 11.75 and drops.
Yeah right now because people bought into the mortgage crises hype, but after the smoke clears and the crackheads fade away, BAC will be easily $15 stock. This is great stock to just buy and sit on for awhile and I promise you BAC will see $15 per share before Citi will see $6
Wow Bidu is tanking right before earnings! It’s down .93. Buy it around here and hope for good earnings and take it long.
How is that tanking? If you look at Bidu in the past few months, it makes a daily fluctuation of $1/1% normally.
Finacials are all back on track BAC is within a nickel of where it closed yesterday. Nice comeback you dam robbers.
Hey Hey Hey, easy on BAC lol………BAC is near future will be $15……..Great earnings by the way.
Pick on Citi……..they bite
All the banks that took the tax payer bailouts bite.
Yeah but lets not forget that BAC paid back the TARP money all $45 Billion which includes interest. So the way I see it is, the taxpayer and govt made out on the deal with BAC. Now let them get pass this “Mortgage Hogwash” and watch their stock soar.
FASBE changing the accounting rules paid back tarp. But that story hasn’t fully played out yet, has it.
Hey wasn’t the S&P supposed to hit 1200 today, Oh wait that’s tomorrow
Do fake prints count. If they do then you at least have a gap fill on the spy.
still calling for GOOG 720
http://stockcharts.com/h-sc/ui?s=GOOG&p=D&yr=2&mn=5&dy=0&id=p86623956171&a=181587577
not saying we’ll get there right away though. this is a longer term view.
Woo, can you share us with your analysis of short term and mid term forecast of SPY?
NFLX sky rocketting. I guess word is out that earnings are going to be good.
How convenient, BAC closes at their resistance. MAJOR questions about lawsuits with PIMCO, others–BAC also suing FDIC, pass the buck, banks win, taxpayers lose. Have I heard this story before?
Yep you are right, but hey BAC had good earnings with surprise and nice little red bow. After BAC gets pass their 11.75 resistance, then its clear sailing with blue skies up to 12.08
Will buy in the $10 to $10.25 range–if I lose, so be it, too many questions.
Video shows S&P 500 with time symmetry top due soon and some of the new TA tools from stockcharts
http://chart.ly/76n427d